Amid growing skepticism around NFTs, Cooper and OneOf CEO Lin Dai explain why artists “are far better off embracing than rejecting” the new paradigm.
: Well, I’ve known Lin for a number of years. Warner has invested in him.
The good news, I think, for Web3, is that for many artists — and again, it’s much broader than music — but for the Gen Zs, the millennials that have grown up in a digital age as opposed to people like me, that acceptance and that adoption has accelerated. There used to be a much greater mean time between the introduction and the broad acceptance of technology. Those mean times have collapsed over the last two or three decades, where new technologies are embraced much more rapidly.
We work closely with Pepsi and Anheuser Busch, and American Express is a major investor in our last round.
Now, I think every major company, whether you’re CPG [consumer packaged goods] or you are music streaming — Spotify just rolled out some new software — everybody kind of knows and believes Web3 is going to happen. They know today’s tools suck. Today’s tools are not good for beer drinkers or fans that just want to go to a festival [to] enjoy and don’t want to connect a crypto wallet. That’s why they are actively looking for solutions.
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